The Impact of Freight Rates on Pirate Attacks

Autor: Kadir Emrah ERGİNER, Abdullah AÇIK, Özgür YILDIZ
Jazyk: turečtina
Rok vydání: 2019
Předmět:
Zdroj: Turkish Journal of Maritime and Marine Sciences, Vol 5, Iss 2, Pp 88-96 (2019)
Popis: The aim of this study is to determine whether freight levels in dry bulk and tanker markets have an impact on pirate attacks. The sample included in the study consists of monthly bulk and tanker freight indices and annual attack values between 2008 and 2018 periods. Annual attack values due to data constraint have been converted to monthly data by cubic transformation in order to carry out the analyzes more accurately. The results reveal that freight rates are the causes of pirate attacks, freight rates significantly affect pirate attacks on both bulk ships and tanker ships in a positive way, and freight rate changes in the bulk market explain the attacks more. This results indicate that increased freight revenues are more motivating for pirates to attack.
Databáze: OpenAIRE